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independent news & media plc (INM) Details

Independent News & Media PLC is engaged in printing, publishing, and distribution of national and regional newspapers primarily in the Island of Ireland. The company publishes various newspapers under The Sunshine Coast Daily, The Queensland Times, The New Zealand Herald, the Herald on Sunday, the Sunday Independent, the Belfast Telegraph, Sunday Life, Metro herald, Irish Independent, and Sunday World names. It also operates online news portals consisting of nzherald.co.nz, BelfastTelegraph.co.uk, and Independent.ie; online property sites comprising propertynews.com and globrix.ie; recruitment portals, including niJobfinder.co.uk and findajob.ie; GrabOne, a daily deals ecommerce site; and niCarfinder.co.uk, a car portal site, as well as online coupon deals Websites. In addition, the company is involved in radio broadcasting operations, which comprise the Australian Radio Network and The Radio Network. Further, it is involved in outdoor advertising and contract printing businesses; the publishing and distribution of magazines; the provision of management services; and operation of third level college. The company also has operations in Australia, New Zealand, and the South East Asia. Independent News & Media PLC was founded in 1904 and is based in Dublin, Ireland.

independent news & media plc (INM) Top Compensated Officers

independent news & media plc (INM) Key Developments

Independent News and Media to Shed 30 Jobs in Restructuring

Jan 29 15

Independent News and Media announced that there will be no more than 30 jobs lost as part of a restructuring at the group. The company said as part of plans to future-proof the business, they would be implementing a voluntary redundancy programme next month.

Independent News & Media PLC Announces Interim Management for the Period from January 1, 2014 to November 14, 2014

Nov 19 14

Independent News & Media PLC announced interim management for the period from January 1, 2014 to November 14, 2014. Total group revenues declined by 2.2%; when the impact of the closure of the Group's NI free-sheet business is adjusted for, underlying total advertising revenues (print and online) increased by 0.4; Total circulation revenues declined by 2.7%; and operating costs reduced by 2.9%, despite a substantial investment in digital activities, in line with the group's digital strategy. Total print advertising revenues are down by 3.4% YTD (underlying down by 2.6%, allowing for the NI free-sheet impact as referred to above), compared to a decline of 2.7% for the first six months of the year. Circulation revenue declines have continued at a marginally higher rate, with a YTD decline of 2.7%, versus a deficit of 2.4% for the first six months of the year. Online revenues are up 33.1% YTD, compared to an increase of 30% for the six months ended 30 June 2014. This performance is principally due to continued strong growth in digital publishing operations, which continue to deliver on substantial growth in unique users and traffic, together with NI classifieds business. The group's daily deals website, GrabOne, recorded YTD growth of 8.6%, compared with marginal growth for the first 6 months, with the business delivering on its strategic re-focussing on higher value deals. Total Advertising Revenues (print and online) were only down by 0.4%, with an improving performance over recent weeks. The group has delivered a marginal increase in YTD profitability (versus a flat performance for the first six months of the year), with continued cost savings more than offsetting YTD revenue reductions and the substantial investment in digital operations.

Independent News & Media PLC announced that Mr. Eamonn O'Kennedy is to leave the Group to pursue other interests. This coming December, Eamonn will be replaced as Group Chief Financial Officer by Mr. Ryan Preston, who joins from Tesco, where he currently holds the role of Group Finance Director Europe. Eamonn O'Kennedy will stay in his current role until after Ryan Preston joins the company, thus enabling a seamless transition in the role. Ryan Preston, aged 41, holds a BA (Hons) in Accounting from the University of Ulster in Jordanstown. Having worked in Stewarts Supermarkets, he joined Tesco in 1997 as part of the acquisition working in internal audit. He then held senior financial positions in Operations, Clothing & Homeware, and Distribution & Supply Chain Management. He became CFO of Tesco Ireland in 2010 and in 2013 was promoted to Group Finance Director for Tesco Europe.

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